Managers

Among the $20bn raised by the Toronto-based firm during the period was $2.2bn for its fifth flagship real estate fund, BSREP V.

The historic five-star hotel on the Grand Canal has been closed since 2022 for renovation, and now has a new owner.

Mergers and acquisitions remain muted, but potential sellers are hungry for partners that can push their products onto retail investors, says Drew Murphy, partner and head of real estate at Berkshire Global Advisors.

The Southern Europe-focused manager took just five months to reach a final close for the fund, well below the European average.

The Los Angeles-based firm expects to bring to market the latest iterations of its European and US value-add real estate funds this year.

During the firm’s first quarter earnings call, senior executives said ‘interesting' opportunities were arising in the lower-risk strategy.

Average private real estate remuneration growth tapered close to zero in 2023, according to the annual compensation study by PERE and executive recruiter Sousou Partners.

The Cleveland-based advisory and manager is looking to tap into private wealth channels following the close of the deal.

The manager will be looking to originate its own loans, pursue securitized deals and acquire loans from traditional lenders as part of its real estate debt roadmap.

Fundraising for Alterra IOS Venture III was completed within eight months, well ahead of the average time managers are in the market raising their funds.